Three out of four marketers identify social media as their go-to channel when it comes to launching a new product or service, according to a new study by Five by Five. Sales promotion, email and traditional press and PR tactics round out the top five.

The flexibility and availability of social media are part of the reason for its appeal to marketers, the survey revealed. Almost half (46 percent) of respondents say generating awareness before the launch of a product is social media’s biggest benefit.

In addition, 81 percent of marketers report the process from idea to launch has accelerated over the last five years. As a result, marketers have less time to craft extensive launch plans. Social media provides an immediate outlet for messaging. Furthermore, 64 percent of marketers are leveraging social listening to support new product development and launch.

“You’ve got that really close relationship with customers now through digital media which allows you to get very quick responses,” stated one of the respondents highlighted in the report.

The survey included more than 730 senior marketers across multiple industries in the US, UK and Australia.

Study Finds Social Media is Critical Digital Marketing Tactic

Earlier this year (July 2016), Clutch’s annual “Social Media Marketing Survey” revealed 78 percent of enterprises consider social media to be more critical for business success compared to other digital marketing strategies.

Buyers are turning more often to social media to conduct research, and marketers are hoping to leverage those channels to reach them.

As more buyers turn to social media while conducting research, a new survey has discovered that it’s increasing in value to marketers and their organizations.

For B2B enterprises, Facebook (95 percent) was the most commonly used social channel, followed by Twitter (74 percent) and LinkedIn (66 percent).

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